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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by rob926on Nov 18, 2013 10:19pm
175 Views
Post# 21917822

RE:Trying to process this...

RE:Trying to process this...Simon actually said that they have not released any results from the 2013 drilling campaign but hope to in early 2014. Freeport is a big company and is in no hurry to rush this along. From my understanding Freeport has 5 years to finish the Bankable Feasibility Study. Simon stated that they hope that there will be a scoping study done by the end of 2014 followed by a pre-feasibility study and then the Bankable Feasibility Study if all goes well. Freeport did not drill any holes on the lease they illegally explored. They did geological survey and chip samples. Not sure why Freeport did it but sounds promising since Reservoir decided to continue the exploration on their own. I do not know if Freeport is doing any other JV’s in Serbia but Reservoir has a huge portion of the known region with 7 leases. CSAMT surveys should not take to long if the vendor is not booked up. It is still hard to tell the size of the deposit and grade until you drill. Freeport drilled some holes in different areas before the first significant discovery hole. Like I said before I think Freeport is in no hurry to release information. They have taken out the Serbian Greenfield reference in their latest slide deck. Freeport is not ready to talk to their analysts or investors about this discovery and probably will not until they have enough information that would be meaningful to their stock. I would think they would have enough information about the discovery after the scoping study is finished. Hopefully we will get some more good holes announced along the way and if we are really lucky another big discovery will emerge in 2014.
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